When externalities exist, economic efficiency is achieved when marginal private benefit equals marginal private cost

The long-run aggregate supply curve is vertical

Indicate whether the statement is true or false

The Fed's principal decision-making body, which directs buying and selling U. S. government securities, is known as the:

a. Federal Open Market Committee. b. Federal Deposit Insurance Corporation. c. District Board of Governors. d. Reserve Requirement Regulation Conference.